IQALUIT, Nunavut - Iqaluit, a territorial capital in a G7 nation, is an Arctic boomtown perched on the northern shores of Frobisher Bay — but the Nunavut town's waterfront has scarcely changed since English explorer Martin Frobisher sailed into the inlet in 1576. The growing community, clamouring for supplies that include building materials, construction equipment and all-terrain vehicles, boasts some of the world's highest tides. In the summer months, mammoth barges are forced to work [Read more]
News
Column: University campaigns to boycott energy companies hypocritical
By Marco Navarro-Genie HALIFAX, NS/ Troy Media/ - The recent news that Dalhousie University in Halifax – and reportedly some 20 other universities across the country – is investigating whether to sever its ties with large businesses that deal in fossil fuels provides a unique opportunity to reflect on the true purpose of the university. While environmental integrity should be a priority of Canada’s oil, gas and coal industries (as well as every industry), a university boycott of some [Read more]
Oil edges lower after big drop on expectations for Libyan supplies, lower global demand
The price of oil edged lower Monday after its biggest one-day drop since April on expectations Libyan oil will soon return to the market.Benchmark U.S. crude for August delivery was down 39 cents to $100.44 per barrel at 0535 GMT in electronic trading on the New York Mercantile Exchange. It fell 3.1 per cent last week and is down 4.3 per cent so far in July.Brent crude, a benchmark for international oils, gained 19 cents to $107.45 on the ICE exchange in London.Oil prices shot up in June to a [Read more]
Sunshine Oilsands Ltd. Announces Appointment of Executive Director
CALGARY, Alberta and HONG KONG, July 13, 2014 /CNW/ - The board of directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation"; HKEX: 2012; TSX: SUO) is pleased to announce that Mr. HU Jin, alias Jimmy Hu, ("Mr. Hu") has been appointed as an executive director of the Corporation with effect from 14 July 2014. Mr. Hu will have executive responsibility as Senior Vice President, Corporate Strategies. As announced on 27 June 2014, Mr. Hu had originally been appointed as a non-executive [Read more]
Court approves First Nation challenge of Trans Mountain pipeline review
VANCOUVER - A Federal Court judge will let a British Columbia First Nation challenge the review process into the expansion of Kinder Morgan's Trans Mountain oil pipeline.The Tsleil-Waututh (sail-WHA'-tooth) Nation says if the challenge were successful, it could force the National Energy Board to restart its review process.Tsleil-Waututh Chief Maureen Thomas says government and the NEB have entered into an unlawful process that doesn't respect the band's rights and title.Thomas says the First [Read more]
US rig count increased by 1 in latest week to 1,875
HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by one this week to 1,875. The Houston firm said in its weekly report Thursday that 1,563 rigs were exploring for oil and 311 for gas. One was listed as miscellaneous. A year ago there were 1,759 active rigs. Of the major oil- and gas-producing states, Alaska, Kansas, Louisiana, Pennsylvania and Texas gained two rigs each. North Dakota, Ohio and Wyoming each [Read more]
Two legal challenges filed over federal approval of Northern Gateway
VANCOUVER - Two legal challenges were filed Friday against the federal cabinet's approval of the Northern Gateway pipeline.The Gitxaala (git-HAT'-lah) First Nations, who hail from the North Coast of British Columbia, filed an application for judicial review with the Federal Court of Appeal.Ecojustice filed a separate application on behalf of ForestEthics Advocacy, Living Oceans and the Raincoast Conservation Foundation.The environmental groups are asking for a court order quashing the approval [Read more]
NEB says it will weigh Imperial, Chevron’s Arctic spill response plans
CALGARY - The National Energy Board has agreed to give two big energy companies more clarity over whether their plans to deal with a potential well blowout in the Beaufort Sea are adequate.Imperial Oil Ltd. (TSX:IMO) and Chevron Canada Ltd. had asked the board for more certainty before committing huge amounts of money to explore in Arctic waters.The NEB requires companies to show they can kill a ruptured oil well in the Arctic offshore with a relief well in the same season it's drilled — a [Read more]
Northeast B.C. blaze causing trouble for shale gas producers in area
CALGARY - Talisman Energy Inc. (TSX:TLM) says a wildfire burning in northeastern B.C. has forced the evacuation of its Ojay gas plant and shut in about 2,000 to 3,000 barrels per day of production. Spokesman Brent Anderson says authorities issued an evacuation order on Wednesday and that relatively few workers are affected. He says the fire is burning about 12 kilometres from the facilities, which are south of Dawson Creek. Meanwhile, Shell Canada Ltd. says it has also shut in a few [Read more]
Oil price gives up most gains of previous day as supply worries continue to ease
The price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.Benchmark U.S. crude for August delivery was down 54 cents to $102.37 a barrel at 0815 GMT in electronic trading on the New York Mercantile Exchange. The contract closed up 64 cents at $102.93 a barrel on Thursday.Oil prices shot up in the last month to a 10-month high over concerns that strife in Iraq might disrupt supplies. However, they have since been [Read more]